Update in Lawsuit for Investors in Puma Biotechnology Inc (NYSE:PBYI) shares announced by Shareholders Foundation

SAN DIEGO, Dec. 12, 2017 -- The Shareholders Foundation, Inc. announces that a lawsuit is pending for certain purchasers of (NYSE:PBYI) shares against Puma Biotechnology Inc over alleged violations of Securities Laws.

Investors who purchased shares of Puma Biotechnology Inc in 2015 or earlier and continue to hold any of those (NYSE:PBYI) shares should contact the Shareholders Foundation at [email protected] or call +1(858) 779 - 1554.

On June 3, 2015, a lawsuit was filed against Puma Biotechnology Inc. The plaintiff claims that the defendants made allegedly false and/or misleading statements and/or failed to disclose that the Company’s NDA filing would be for a positive early stage breast cancer indication, instead of the previously announced metastatic breast cancer, that Puma Biotechnology Inc would need to submit additional safety data from preclinical carcinogenicity studies with its NDA filing, which Puma did not have, that the additional required studies would necessarily push the timeline for filing the NDA into the first quarter of 2016, that the Company overstated results from its Phase III ExteNET Trial and that as a result of the foregoing, Defendants lacked a reasonable basis for their positive statements about the Company and its outlook, including in its financial statements and about the ongoing ExteNET trial.

On October 16, 2015, a consolidated complaint was filed and November 30, 2015 the defendants filed their motion to dismiss the case, which the court denied on September 30, 2016. On June 6, 2017 an amended complaint was filed and on June 19, 2017 the defendants filed their motion to dismiss the amended complaint, which the court denied on July 25, 2017. On December 8, 2017, the court granted class certification.

Those who purchased (NYSE:PBYI) shares should contact the Shareholders Foundation, Inc.

The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

CONTACT: 

Shareholders Foundation, Inc.
Michael Daniels
+1 (858) 779-1554
[email protected]
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108